Results from the 2019 ManpowerGroup Employment Outlook Survey (MEOS) for the third quarter indicate that Hong Kong employers are reporting stable hiring plans for the July-September time frame.
Once the data is adjusted to allow for seasonal variation, the Net Employment Outlook stands at +16 per cent. Hiring intentions decline by three percentage points when compared with the previous quarter but remain relatively stable in comparison with this time one year ago. Of the 594 employers surveyed, 19 per cent forecast an increase in payrolls, 3 per cent anticipate a decrease and 77 per cent expect no payroll changes.
Employers expect to add to payrolls in all six industry sectors during the next three months. The strongest labor markets are anticipated in the service sector, with a Net Employment Outlook of +21 per cent.
Elsewhere, employers in three sectors report upbeat Outlooks of +20 per cent – the finance, insurance and real estate sector, the mining and construction sector and the transportation and utilities sector. Wholesale and retail trade sector employers forecast respectable payroll gains, reporting an Outlook of +17 per cent, while the weakest labor market is expected in the manufacturing sector where the Outlook stands at +6 per cent.
“The demand for high caliber staff with expertise in data and cyber-security, cloud engineers, data architects is still growing across different industries in Hong Kong,” said Lancy Chui, senior vice president at ManpowerGroup Greater China region. “The Greater Bay Area development plan will create significant opportunities for businesses across many sectors like professional services and technology. Employers expect increases to headcounts. Facing difficulties in finding the professional services talent they need, more corporations are willing to provide better offers, higher pay, and flexible staffing packages.
“In addition, the number of inbound visitors and outbound travellers keeps rising, and the opening of new hotels will bring healthy hiring plans in the services sector to support the demand,” she said.
Positive workforce gains are anticipated in the July-September period. Commenting on the mining and construction sector in particular, Chui added: “The on-going construction projects in both public and private sectors, infrastructural projects such as the Three-runway System, and various hospital projects generate constant demand for the workforce in the construction sector. Among all types of employees, welders and electricians will be the most wanted skilled workforce in the sector.”
